DoorDash posts better-than-expected Q1 sales as US grocery demand grows
DoorDash has reported higher-than-expected revenue in the first quarter, as strong growth in U.S. grocery orders helped make up for slowing restaurant demand
DoorDash reported higher-than-expected revenue in the first quarter, as strong growth in U.S. grocery orders helped make up for slowing restaurant demand.
The San Francisco-based delivery company said Wednesday its revenue rose 23% to $2.51 billion in the January-March period. That was higher than the $2.45 billion Wall Street was expecting, according to analysts polled by FactSet.
DoorDash said its total orders climbed 21% to 620 million. That also surpassed expectations; analysts were forecasting 607 million orders.
The value of U.S. grocery orders doubled from the same period last year. DoorDash began offering grocery delivery in 2020 and continues to add grocery options. In March, Giant Eagle expanded the number of stores offering same-day DoorDash delivery in Pennsylvania and other states. In April, DoorDash added some West Coast grocers to its offerings, including Haggen and Vallarta Supermarkets.
